FIGS (NYSE:FIGS) Shares Up 2.7%

FIGS, Inc. (NYSE:FIGS)’s share price traded up 2.7% on Wednesday . The stock traded as high as $5.78 and last traded at $5.64. 992,289 shares were traded during mid-day trading, a decline of 73% from the average session volume of 3,736,834 shares. The stock had previously closed at $5.49.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FIGS shares. Telsey Advisory Group reiterated a “market perform” rating and set a $6.00 price target on shares of FIGS in a report on Monday, August 5th. Roth Mkm lowered their price target on FIGS from $7.50 to $6.75 and set a “buy” rating for the company in a research report on Friday, May 10th. Finally, The Goldman Sachs Group boosted their target price on FIGS from $4.25 to $4.75 and gave the company a “sell” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.40.

FIGS Stock Performance

The business’s 50-day moving average is $5.62 and its 200-day moving average is $5.41. The company has a market capitalization of $982.22 million, a PE ratio of 51.27, a PEG ratio of 86.00 and a beta of 1.42.

FIGS (NYSE:FIGS) last released its earnings results on Thursday, August 8th. The company reported $0.01 EPS for the quarter. The firm had revenue of $144.23 million for the quarter, compared to analysts’ expectations of $142.25 million. FIGS had a return on equity of 6.12% and a net margin of 4.07%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.02 earnings per share. Analysts expect that FIGS, Inc. will post 0.03 EPS for the current year.

Insider Transactions at FIGS

In related news, insider Heather L. Hasson sold 40,149 shares of FIGS stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $5.70, for a total value of $228,849.30. Following the completion of the sale, the insider now directly owns 425,710 shares in the company, valued at approximately $2,426,547. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 44,638 shares of company stock worth $252,720. Corporate insiders own 22.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Eagle Asset Management Inc. bought a new stake in FIGS in the 4th quarter worth approximately $12,152,000. Wellington Management Group LLP boosted its stake in shares of FIGS by 321.5% in the 4th quarter. Wellington Management Group LLP now owns 3,075,794 shares of the company’s stock worth $21,377,000 after buying an additional 2,345,994 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of FIGS by 26.6% in the first quarter. ProShare Advisors LLC now owns 766,465 shares of the company’s stock worth $3,817,000 after acquiring an additional 161,249 shares during the period. Applied Fundamental Research LLC increased its position in FIGS by 25.8% during the first quarter. Applied Fundamental Research LLC now owns 2,495,381 shares of the company’s stock valued at $12,427,000 after acquiring an additional 511,794 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in FIGS by 499.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 214,589 shares of the company’s stock valued at $1,491,000 after acquiring an additional 178,800 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. It designs and sells healthcare apparel and scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.